Industry ranking
The average time taken by SOLVAY INTEROX LIMITED to pay invoices has decreased over the past three periods, going from 75 days in the first half of 2021 to 72 days in the second half of 2021, and finally to 70 days in the first half of 2022. This suggests that the company is becoming more efficient in paying its suppliers.
The percentage of invoices paid within 30 days has remained relatively stable over the past three periods, ranging from 20% to 24%. However, there has been some volatility in the percentage of invoices paid between 31 and 60 days, with a decrease of 5 percentage points in the second half of 2021, followed by an increase of 3 percentage points in the first half of 2022. The percentage of invoices paid later than 60 days has also shown some volatility, with a decrease of 2 percentage points in the second half of 2021, followed by an increase of 5 percentage points in the first half of 2022.
In the first half of 2022, SOLVAY INTEROX LIMITED took an average of 70 days to pay invoices, which is a decrease from the previous two periods. However, the percentage of invoices paid within 30 days has remained relatively stable at around 20-24%, while the percentage of invoices paid between 31 and 60 days and later than 60 days have shown some volatility. The company's shortest (or only) standard payment period is 60 days, which has remained consistent throughout all three periods.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2022 - 30 Jun 2022 | 27 Jul 2022 | 70 | 24% | 31% | 45% | 19% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
60 days from issuance date of invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
120
The company has a dedicated accounts payable helpdesk that offers suppliers support through to query resolution. The team can be contacted by email or phone. There is also a supplier payment portal that allows suppliers to monitor and view all their account information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
✅
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
✅
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Solvay Interox Limited is a UK-registered company based at Solvay House in Warrington, Cheshire. Its registered activity is the manufacture of other inorganic basic chemicals, and it operates as part of the wider Solvay chemical group, whose global business includes peroxide, soda ash, silica, fluorine and rare earth technologies supplying industries such as consumer goods, healthcare, food, electronics and construction. The Solvay group, headquartered internationally, reports around 8,400 employees, 43 production sites in 41 countries and net sales of roughly €4.3 billion. This entity represents the group's UK operations rather than an independent trading business, with its own activity centred on inorganic chemical manufacture at the Warrington site.
Generated from the company's website and Companies House records. Sources: solvay.com · solvay.com